WOOD News

A proposal has surfaced in Lansing to give Michigan its own stock market.

It's referred to as "crowdfunding," which supporters say allows small-business owners and entrepreneurs to more easily raise capital, and allows in-state investors to buy, sell, and trade securities in those businesses.

The bill to set all of this up is from Michigan House Republican Nancy Jenkins of Clayton.

The measure creates the legal framework for an intrastate stock exchange, and follows a new law recently signed by the Governor which creates exemptions from state regulations that have prevented such financing in the past.